Buying Property in France: Bordeaux Property Guide
Overseas property guides for anyone buying a house or property in Bordeaux. Plus, find property in France.
Bordeaux is the sixth largest city in France, with a population of around 1.2 million people.
Located in the south-west of the country, the city is the capital of the Aquitaine region, as well as the prefecture of the Gironde department.
The old part of the city is protected as it is on the UNESCO World Heritage List, where it is described an "outstanding urban and architectural ensemble" of the 18th century. It is home to one of Europe's biggest 18th century architectural urban areas, making it immensely popular with tourists and filmmakers.
Notable buildings in Bordeaux include the Esplanade des Quinconces, the Colonnes des Girondins, the Grand Theatre and the Allees de Tourny.
In addition, the city boasts a number of superb religious buildings. Of these, the Gothic basilica of Saint-Michel and the Sainte-Croix Church are particularly note worthy.
Bordeaux is perhaps most famous for its wine. In the region around the city there are about 117,000 hectares of vineyards, including 9,000 wine-producing chateaux and 13,000 grape growers.
In total, the area produces around 700 million bottles of wine every year, ranging from everyday plonk to the most expensive wines in the world. Some of the most famous producers near the city include Chateau Lafite-Rothschild, Chateau Margaux and Chateau Latour.
The city has also become well-known for its shopping. Most of the exclusive stores are located on the Rue Sainte-Catherine - a 1.2km-long pedestrian avenue which is classed as the longest shopping street in Europe.
In recent years, the sea around Bordeaux has become a hotspot for surfers as the waves and both big and consistent.
Pros to Buying Property in Bordeaux
It's not hard to see why the city has long been popular with people looking for a second home or to relocate to France.
Indeed, statistics from the French FNAIM agency indicate that prices in the region jumped by 15 per cent during 2005, well ahead of the six per cent growth that Paris enjoyed.
Website france-property-and-information.com currently suggests that prices in the Aquitaine region are around 1893 euros per square metre, making it more expensive that the surrounding Pitou Charentes, Limousin and Midi-Pyrenees regions.
Another report, from frenchpropertylinks.com, suggested that despite the popularity of Bordeaux as a holiday and investment location, the city's centre was still mostly occupied by French people. Most Brits looking to buy homes in the area have opted to invest in rural properties on the outskirts of the city. This has "pushed up the prices of Bordeaux’s suburbs considerably".
Two particularly popular spots near Bordeaux are St-Emilion and Medoc. The first is a village of narrow streets lined with medieval houses located about 35km north-east of Bordeaux. In contrast, Medoc is a region made up of a number of villages to the north of the city. These include Saint-Estephe, Pauillac, Listrac, Moulis and Margaux.
And despite a cooling of the French property market, experts believe that prices in Bordeaux are likely to continue to rise, pushed up by demand from foreign investors.
What's more, improved rail connections with the UK, via Paris, are likely to further increase the popularity of the region and ensure house prices remain competitive in the coming months and years.
Cons to Buying Property in Bordeaux
There is some concern that the election of Nicolas Sarkozy as President in 2007 this year could have an impact on investment in the country.
During his campaign, Mr Sarkozy said that he wanted France to become "much more property owner-oriented". While the government policies could attempt to deter foreigners buying properties, the predicted increase in demand might mean those who already own homes see values rise.
In fact, the latest figures indicate that price inflation has slowed and house prices reduced slightly in the two months to September, 2007. Experts believe that the country may experience single digit house price growth.
What You Need to Know to Buy Property in France
People who buy a property in France will have to sign an initial contract which sets out the price, terms and conditions of the sale. After various legal checks have been carried out, a final contract is exchanged.
In addition, deposits on French properties are always paid to the Notaire or to a bonded estate agent, not the buyer.
Finally, contracts are subject to a seven-day cooling off period. This means that buyers can cancel the contract at any point during this period.
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